AIG makes $1.8 billion sale

AIG | November 26, 2019

T&D Holdings has partnered with a newly created fund by The Carlyle Group to acquire a 76.6% ownership interest in Fortitude Group Holdings for about $1.8 billion from AIG. Fortitude Group Holdings’ group companies operate as Fortitude Re. A release said that after the transaction closes sometime in mid-2020 (subject to required regulatory approvals and other customary closing conditions), ownership interests in Fortitude Re will include Carlyle and its fund investors at 71.5%, T&D at 25%, and AIG at 3.5%. AIG will receive a $500 million non-pro-rata distribution, which, if not fulfilled by May 13, 2020 or transaction close, will result in an additional payment from both the Carlyle fund and T&D based on their respective ownership interest in Fortitude Re. Carlyle had previously acquired a 19.9% stake in Fortitude Re in November 2018.

Spotlight

All aspects of the insurance industry are being disrupted, requiring new digital strategies and IT architectures. This playbook outlines how insurance companies must evolve their delivery architectures to meet the demands of their users, reduce risk and meet regulatory compliance

Spotlight

All aspects of the insurance industry are being disrupted, requiring new digital strategies and IT architectures. This playbook outlines how insurance companies must evolve their delivery architectures to meet the demands of their users, reduce risk and meet regulatory compliance

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